StockNews.com Initiates Coverage on Endeavor Group (NYSE:EDR)

StockNews.com initiated coverage on shares of Endeavor Group (NYSE:EDR) in a research note released on Saturday morning. The brokerage issued a hold rating on the stock.

Endeavor Group Stock Performance

Shares of NYSE EDR opened at $30.20 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.63 and a quick ratio of 0.63. Endeavor Group has a 1 year low of $22.64 and a 1 year high of $30.30. The firm has a fifty day moving average price of $28.95 and a 200-day moving average price of $27.78. The stock has a market cap of $20.66 billion, a PE ratio of -14.73 and a beta of 0.77.

Endeavor Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend was Monday, September 16th. Endeavor Group’s dividend payout ratio (DPR) is -11.71%.

Insider Activity at Endeavor Group

In related news, CEO Ariel Emanuel sold 27,816 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $28.01, for a total transaction of $779,126.16. Following the completion of the transaction, the chief executive officer now owns 1,831,247 shares in the company, valued at approximately $51,293,228.47. This represents a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 225,272 shares of company stock valued at $6,372,925. 63.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Tidal Investments LLC lifted its position in shares of Endeavor Group by 7.9% in the third quarter. Tidal Investments LLC now owns 8,498 shares of the company’s stock worth $243,000 after buying an additional 620 shares in the last quarter. Arizona State Retirement System increased its stake in Endeavor Group by 1.8% in the 2nd quarter. Arizona State Retirement System now owns 50,444 shares of the company’s stock worth $1,364,000 after acquiring an additional 898 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Endeavor Group by 2.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,789 shares of the company’s stock worth $1,165,000 after acquiring an additional 1,066 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Endeavor Group by 3.0% during the second quarter. The Manufacturers Life Insurance Company now owns 46,054 shares of the company’s stock valued at $1,245,000 after purchasing an additional 1,346 shares during the period. Finally, Mirador Capital Partners LP lifted its stake in shares of Endeavor Group by 6.7% in the 3rd quarter. Mirador Capital Partners LP now owns 26,265 shares of the company’s stock valued at $750,000 after purchasing an additional 1,655 shares during the last quarter. Hedge funds and other institutional investors own 71.37% of the company’s stock.

Endeavor Group Company Profile

Endeavor Group Holdings, Inc operates as a sports and entertainment company in the United States, the United Kingdom, and internationally. It operates through four segments: Owned Sports Properties; Events, Experiences & Rights; Representation; and Sports Data & Technology. The Owned Sports Properties segment operates a portfolio of sports properties, including Ultimate Fighting Championship, World Wrestling Entertainment, Inc, Professional Bull Rider, and Euroleague.